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STUDY FINDS PRIVACY IS NOW MISSION CRITICAL FOR ORGANISATIONS WORLDWIDE
isco has published
C its 2022 Data Privacy Benchmark Study , an annual global review of privacy corporate practices on the impact of privacy on organisations and their views towards data privacy . The 2022 report found that privacy is mission-critical , as 90 % consider privacy a business imperative . The survey showed privacy investment continues to rise and organisations see a high return on investments from privacy spending .
Privacy has become a true business imperative and a critical component of customer trust for organisations around the world . For the second year in a row , 90 % of respondents said they would not buy from an organisation that does not properly protect its data and 91 % indicated that external privacy certifications are important in their buying process .
“ The study shows that privacy is increasingly becoming a fundamental responsibility for security professionals . This year , findings show that aligning privacy with security generates financial and other benefits ,” said Fady Younes , Cybersecurity Director – Cisco Middle East and Africa . “ Privacy continues to rise in importance for organisations , regardless of their size or location .”
Privacy ’ s Return on Investment ( RoI ) remains high for the third straight year , with increased benefits for small to medium size organisations . More than 60 % of respondents felt they were getting significant business value from privacy , especially when it comes to reducing sales delays , mitigating losses from data breaches , enabling innovation , achieving efficiency , building trust with customers and making their company more attractive .
Respondents estimate their RoI to be 1.8 times spending on average . While this continues to be very attractive , it is slightly less than last year ( 1.9 times spending ). This could
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Privacy Becomes Mission Critical
Cisco 2022 Data Privacy Benchmark Study
Importance of Privacy to Organizations
Our customers would not buy from us if we did not adequately protect their data
External privacy certifications are a factor in our buying process
Privacy is integral to our culture
90 % 91 % 92 %
Privacy Laws Seen Positively Around the World
92 % 2 %
Mexico
Canada
81 % 1 %
87 % 4 %
United States
85 % 3 %
Colombia
87 % 3 %
Chile
83 % 4 %
Brazil
83 % 3 %
Overall
UK
76 % 5 %
France
The Netherlands
77 % 6 %
80 % 4 %
Spain
81 % 3 %
Germany
79 % 5 %
69 % 4 % Italy
Saudi Arabia
88 % 3 %
Russia
77 % 3 %
India
88 % 2 %
91 % 2 % China
Vietnam
83 % 5 %
Malaysia
90 % 4 %
92 % 2 %
84 % 3 %
Singapore
South Korea
77 % 7 %
Thailand
68 % 1 %
Hong Kong
84 % 3 %
86 % 3 %
Australia
83 % 1 %
Taiwan
94 % 1 %
Japan
Philippines
91 % 2 %
Indonesia
Percent saying positive Impact Percent saying negative Impact
Privacy Investment Brings Attractive Returns
Ratio of Privacy Benefits to Investment
Privacy-Mature Organizations Achieve Higher ROI
19 %
Below 1x
7 %
5x and above
7 %
3x to < 5x
1.53 1.56
1.92 1.95 1.97
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